Cost of Platinum Constrains Fuel-Cell Uptake, Says GE
Fuel-cell technology ultimately will be stymied by the high cost of platinum, according to General Electric, as reported by Bloomberg.
The chief engineering officer of GE’s Power Conversion division told Bloomberg that platinum is a really effective catalyst for fuel cells, “but if you scale it up, there’s not enough platinum in the world.”
Proton-exchange membrane fuel cells requires platinum or palladium, with platinum currently selling for about $1,400 an ounce and palladium costing about $760 per ounce, says Bloomberg. At such prices, the GE executive predicts fuel cells will remain a niche market.
Plug Power’s CEO told Bloomberg that platinum is a only a small fraction of the total price of fuel cell systems and is not a deterrent to scale.
Plug Power makes fuel-cells for forklifts fleets. The company’s stock peaked in February after it announced a big order from Walmart. Plug Power will supply hydrogen fuel cells to power electric lift truck fleets at six of Wal-Mart’s North American distribution centers. The first site will be deployed by the second quarter of 2014.
In March, Plug Power’s stock plummeted after its CEO misspoke about receiving a new contract from an automaker, when in fact, that contract had already been revealed to the public.
Why bring buildings online? What information can operations teams glean from real-time data that they can’t just get from the monthly data provided by utility companies? Click to learn more.
- Existing Building Technologies Combine for Increased Savings
- The Future of Operational Risk Management: The Oil & Gas and Chemicals Approach
- Combined Heat and Power
- 2014 Environmental Leader Product and Project Awards
- Energy Financing Report
- Unlocking the Value of Energy & Operational Data
- Improve Your Company's Environment and Energy Performance
- Let's Do The Math for DR
- Best Practices in Electricity Procurement
- Smart Companies Utilize Integrated Energy Solutions
- Cut Costs and Improve Facility Operations with Energy Data
- Energy Procurement Strategies for Winter 2014 and 2015
- Energy Efficiency Requires Engineering Efficiency
- Integrated Building Optimization: A Crucial Convergence of Demand-side and Supply-Side Energy Management Strategies
- Driving Productivity and Profit with Industrial Energy Management